How to Report Contingent Liabilities Under GAAP Guidelines

Learn to report contingent liabilities under GAAP. Understand probability categories—probable, possible, remote—and how to ...
AOL

What Are Generally Accepted Accounting Principles (GAAP)?

Using standard accounting methods benefits any small business. For those looking to level up their financial reporting, adopting generally accepted accounting principles (GAAP) can unlock new ...

Auditing Evidence: Essential Characteristics and Real-World Examples

Discover auditing evidence that ensures financial accuracy and compliance. Explore key characteristics and examples crucial ...
Houston Chronicle

IFRS Vs. GAAP Revenue Recognition

Two accounting boards are working toward a common set of procedures for recognizing revenue. The international financial reporting standards, or IFRS, are the International Accounting Standards ...
JournalofAccountancy

OCBOA Financial Statements

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...
Houston Chronicle

How Does the SAS Affect Accounting?

SAS stands for Statements on Auditing Standards. These laws and regulations are not directly related to generally accepted accounting principles, or GAAP, which is the most important factor in ...